Quality Appraisal Reviews by Haley Brueggemann

According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation plans," and that appraisers fulfilling reviews have to "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Haley Brueggemann, we provide appraisal review services that are unbiased, expert, professional and compliant with the Federal Reserve's regulations.

Appraisal reviews "should figure out whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. They "must also show whether the appraisal or evaluation report is even with the engagement letter, which sets forth the scope of the appraisal assignment." The Federal Reserve also states that "some institutions augment typical reviews with post-funding evaluations of appraisal quality for a few of their higher-liability or higher-value contracts as a way to assist in discovering valuation problems."

In addition to adapting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we will develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Haley Brueggemann, we're experienced in every type of appraisal review, review practice and the requirements of review appraisers.